Humans tend to be very stuck on the idea of ownership. We need to know who owns everything, from the homes we visit to the stores we shop in. For traditional businesses, this setup looks a little different than for nonprofits. If you’ve ever wondered who owns a nonprofit, the answers may confuse you. Essentially, nobody does. If this is confusing, don’t despair--different businesses are owned in different ways, explained below.
Your nonprofit has big goals for your next fundraising campaign. Whether you’re developing a new project to serve your community or creating a new space in which to accomplish your good work, you understand that your organization’s future will be shaped largely by the success of your campaign. To achieve the results you want in your next fundraising campaign, it’s essential for your organization to have strong plans in place before you begin.
All puns aside, accrual accounting and budgeting are the bread and butter of accounting, and so important to the successful nonprofit. For many small and midsize organizations, operations continue on a modified accrual basis, which means cash until year-end adjustments for accrual happen. If this sounds complicated, don’t despair--there are only six basic accrual concepts you need to understand to get a functional, working knowledge in place. After that, your nonprofit accountant can help sort things out.
Nonprofits frequently start small--a few dedicated people working from someone’s home or even garage. Eventually, with work and a little luck, some grow to acquire office space and even employees. While it is an important milestone, it can be a complicated one for your organization. Beyond finding the right candidate, what exactly should you do? Decide which type of employee is right for you If you’re small and a little uncertain about your growth potential, it might make more sense to hire a contractor or two instead of employees.
When we hire someone, we usually have a standard set of things we look for--base requirements for the job that a person must meet to even be considered. Once a candidate has based the resume test, we bring them in to get a feel for how they might fit in the office. We converse with them, feeling them out. For small businesses, and many nonprofits, this is crucial. A small staff and close working quarters makes this step even more important because this person not only shares the workload, but the space.